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CALCAP Connections                             May 2018

Building the Track Record
Tomorrow, CALCAP is closing on the 120-unit Lincoln Place Apartments in Albuquerque, NM. We acquired the property for $7,525,000, or $62,708 per unit and $95 per square foot. Our strategy will be to reposition the asset from a C+ to a B quality property. The prior owner held the property for 10 years, but did not do any unit upgrades to drive rental increases. We feel that by completing our value add strategy, we can increase rents $125 per month on renovated units. We also plan to:
  • Install low flow toilets, shower heads and faucet aerators as part of our green initiatives  
  • Add washer/ dryers to selected units 
  • Add a pergola with gas BBQ cooking station on the pool deck  
  • Upgrade dated clubhouse by adding a gym amenity
This deal marks the 25th acquisition completed by CALCAP, with total acquisition price of $125,000,000.  
CALCAP has also now completed 10 "full turns" from acquisition to final disposition. Our average holding period on these assets has been 35 months, with an annual project level return of 31%.  
We are very pleased with these results, and remain committed to strategically source and acquire additional value add opportunities. Please feel free to reach out to us if you would like to learn more.
Happy start of Summer!
Edward M. Aloe  
President and CEO  
Latest Headlines...
Tech and Big Data Disrupt the Real Estate Investing Status Quo
In the world of real estate investing, there's a common challenge that most investors face these days. The first inclination might be to think it's funding. But much has changed, and in fact improved, in the world of investment property funding since the hangover and recovery from the big crash.
View Article Here  
More than half of U.S. homes in need of updates, renovations or repairs
Many of these older homes are in need of updates, renovations or repairs, according to the report. This, combined with the recent slew of natural disasters in 2017, which displaced thousands, left conditions ripe for lenders who focus on construction to permanent and renovation loans.
And according to the Joint Center for Housing Studies, these trends are expected to continue over the next decade. Baby Boomers are expected to continue driving gains in new construction and renovations over the next decade. And while Baby Boomers are leading the charge,  
Gen Xers are also beginning to enter their prime remodeling years.

Texas Metros Lead for Population Growth in 2017

Looking at the nation as a whole, the population was up by 2.3 million people, or 0.7%, between July 2016 and July 2017. Just over 1.2 million - or roughly half - of those new residents were in the South region of the country, while the West saw its population increase by 765,672 people. The Midwest and Northeast regions logged much more mild growth of 100,000 to 200,000 residents.
Leading the U.S. in statewide population growth was Texas, with a residential increase of 399,734 people in the past year. Not far behind was Florida with 327,811 new residents and California with 240,177 people. Registering populace growth around the 100,000 mark was Washington, North Carolina, Georgia and Arizona.

On the lighter side....

California Capital Real Estate Advisors, Inc. (CALCAP) is a real estate investment and advisory firm.  Partnering with businesses, asset managers, developers and communities we reposition distressed real estate, and provide liquidity, adding value for our stakeholders and the communities we serve.  
We are proud of our ability to identify opportunities and to move quickly in adding value to a diversity of projects. Through our experience, extensive network and creative problem-solving skills we have established a strong record of success.

CALCAP's work includes the acquisition of distressed residential and commercial properties and debt; the repositioning of real estate; asset management; real estate brokerage; consulting; and real estate financing services.

**New Address**
65 N. Catalina Avenue   
Pasadena, CA 91106
Edward M. Aloe, President & CEO
(626) 229-9057

Mark A. Mozilo, Principal
(626) 229-9056

12626 High Bluff Drive, Suite 360
San Diego, CA 92130 
Patrick A. Wakeman, Principal
(858) 764-4890

4747 North 7th Street Suite 170
Phoenix, AZ 85014
Drew Buccino, COO
(602) 419-3381

1309 State Street Suite A
Santa Barbara, CA 93101
Greg Blix
Director of Investor Relations
(805) 896-8500

2603 Main Street, Suite 850
Irvine, CA 92614
Len Israel

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